Bond proceeds shall be used only to pay the cost of infrastructure improvements, including:
(1) the cost of establishing, acquiring, designing, constructing, extending, or altering infrastructure improvements;
(2) the cost of issuing bonds;
(3) payment of the principal of and interest on loans, money advances, or indebtedness incurred by the county for any purpose stated in § 21–504(a) of this subtitle, including refunding bonds previously issued; and
(4) funding of a debt service reserve fund or payment of interest before, during, or for a limited period of time after constructing the infrastructure improvements.
Structure Maryland Statutes
Title 21 - Special Taxing Districts
Subtitle 5 - Districts for Infrastructure Improvements for Selected Counties
Part I - Definitions; General Provisions
Section 21-502 - Application and Construction of Subtitle
Section 21-503 - Authority Granted
Section 21-504 - Purpose of Authority
Section 21-505 - Conditions and Limitations
Section 21-507 - Use of Special Fund When No Bonds Outstanding
Section 21-509 - Termination of Special Taxing District
Section 21-510 - Investment of Special Fund and Sinking Funds
Section 21-511 - Bonds Authorized
Section 21-512 - Conditions of Issuance
Section 21-513 - Bonds Are Securities
Section 21-514 - Payment of Bonds